Tips for a Beginner?

Hi, I just started coin collecting, and I just have a tiny collection of a JFK half dollar and a few dollar coins. I don't know anything about collecting, but I really want to get into it and I was hoping I could get a few pointers. Any tips would be much appreciated. Thank you!

Right now I just go through any loose change I see to find a coin that looks interesting or special.

 

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Welcome to CT (CoinTalk) and the crazy, wonderful, and diversified world of numismatics!

My best advice is to read. A lot. And then read some more. This forum (and others) have a huge amount of information about anything and everything coin-related.

Then you'll want to choose a path for your hobby. Modern? Classics? Gold? Silver? Copper? Ancients? Errors? etc.

Once you've chosen a path, stay on it. It's ok to take scenic detours (getting something outside of your focus set because it really speaks to you), but if you get t far off that path, you'll end up scattered all over the place, and you'll look back and say "why did I get this coin?" Don't ask me how I know this.

Also, remember that the education and the hunt are probably the two most enjoyable parts of the hobby. I honestly can't believe how much I have learned because of this hobby, and so much is not directly related to coinage, but to history.

And lastly (only because it's late and I'm tired), when you are seeking out a coin, get the best one you can afford. Nothing worse then buying a coin to fill a hole, and then deciding to find a better example 2 days/weeks/months/years/decades later because it just doesn't satisfy what you had in mind for your set. Buying cheap costs more in the long run.

Oh, and at first, I would recommend buying slabbed (graded) coins at first. There are a lot of coins out there (especially on a certain popular auction site) that are represented to be better then they actually are. Many uneducated (not necessarily new) hobbyists fall victim to these kinds of coins, and may be happy at first, but are sadly disappointed when they try to sell or trade that coin at a later time.

And just to make sure I said it...


READ!

 

read/buy coin books and ask many question about coins you are about to buy. it never hurts to get a second opinion on a coin either. I always ask for a discount. some dealers are nice and lower the price on some coins. some dealers don't... that's life. buy what you like. have fun doing it.

 

I'm pretty new to collecting myself and when I first started 2 weeks ago I found myself overly concerned with the values of coins thinking, "Hey, if I find X coin then I could sell it off for some decent cash.." Well, that led to me getting frustrated and annoyed at not finding anything valuable. About a week into my collecting I said screw it and just started looking for stuff I found interesting. Since then I've been a lot less annoyed and found relaxation in the digging/hunting.

Long story short, don't put much emphasis on how much your collection is worth. Like SteveInTampa said, collect what makes you happy.

 

First, welcome to the neighborhood @Joaquin !

You probably won't find a coin like this in circulation, but it is fun to imagine what it would be like to own one. I found this one in a bag I bought from the Mint.

Chris

 

that is awesome. great find.

 

I would recommend coin roll hunting to start. Its a great way to expose yourself to different mint errors and post mint issues to coins for cheap money and just like beefer mentioned maybe once or twice, read and get to know a series. Less mistakes made = more fun. Its never fun to toss away a bunch of money because you thought you knew what you were doing, it could ruin the hobby for you.

 

Coin roll hunting can be great fun and it forces you to pay attention to the coin, if you are looking to possibly score something cool or valuable. That said, it can also be lots of coins and finding nothing. But you might just decide you like one of the modern series, and at least put together a series collection. I found I like the modern coins, even though they aren't worth much. It allows me to focus on finding uncirculated coins.... which is a grade and doesn't mean they can't be in circulation. And aside from time, there is little downside.... I can always take a bunch and spend the non-valuable ones. If you coin-roll hunt, go look at the threads on here for that!

 

not mine ^^ but I do have three I bought. Still dreaming of finding one in the wild, even if substantially lower grade....

 

My advice is explore all parts of collecting to see what you Like, start a Dansco 7070 album types set to see what you like in moderns, and my general rule of thumb is to keep all pre 1965 dates and root out ones that are worthless or I don't care for. Also like I said earlier start collecting EVERYTHING and then pick a way IF you want to I collect everything
Thanks,
Jacob

 

Don't make the mistake I made as a young collector: Rather than trying to buy as many coins as you can, save your money and buy one of the BEST quality coins you can afford. A small collection of high end coins is vastly superior to a large collection of common coins or junk.

 

Like others have said, and many more still will, read. Whether its this forum, magazines, or books reading is always the best wayto learn. Go to shops and shows and ask questions. I've learned so much more than I ever thought I would from this forum when I joined 6 years ago.
Before I joined here I was just like you. I was interested in coins but really had no idea what to look for or what I even wanted to collect. But as time went on I slowly gravitated towards a couple specific series and I'm sure the same will happen for you.
If you don't know what you want to collect yet spend most of your "coin time" just reading, looking and listening. Don't spend a lot of money on any coins right away.
If you spend enough time on this forum you'll eventually see that the eBay seller Great Southern Coins should be avoided. While I disagree with avoiding them, I will say that you should use caution when buying any raw coin from them either until you're very comfortable with spotting problem coins or you've gotten advice from someone who is - posting photos here and asking for advice is always good.
The reason I brought them up is because even though I very rarely purchase anything from them I still follow them on eBay and scroll through their listings probably on a weekly basis because they're always listing new stuff and I just like looking at coins.
That might be something you want to do just because it will expose you to many different series of US coins and that may help you decide if their are any particular series that pique your interests.

 

Im starting to figure out quality over quantity concept.

 

There's a story worth telling about every collectible coin. If not? Why collect it. I always connect history to the times a coin circulated in or was minted. Or WHY it was minted. Change is painful, and many changes in US Coinage were made because of economic reasons...

 

Look around on this forum in the different categories - U.S., World, Ancients, Exonimia - and find stuff that interests you. After that it's pretty much learn about what you're interested in, buy some of what you're interested in, store it/appreciate it, repeat. Make sure to have fun - that is important.

 

Great answer Beefer...and I might add, don't handle collectible coins with bare fingers. Welcome to CT @Joaquin ! Best collecting to all.

 

If you can find a copy of the BSA Coin Collecting merit badge pamphlet, it makes a terrific introduction to the hobby.

 

Does that say "Double Die?" That does say "Double Die."

 

I started collecting soon after I went to a safe deposit box unclaimed property auction in 2010. I had just retired from working for my state Dept of Revenue and I had previously received a flyer from a co-worker in the unclaimed property department for an auction and I was excited to see what kind of stuff was in safe deposit boxes. I was truly amazed! The amount of coins was so great. There were gold bars, silver bars, books of uncirculated US and foreign coins and lots of jewelry, etc. I started with Wheat pennies and buffalo nickels and thru trial and error and a lot of reading and still reading I am building my collection. I have added errors to my collection and really enjoy it when I come across a "special" coin, I could get up and "dance." You know it's a fun hobby when you feel like that at 68 years old.

 

Do a lot of reading and studying. Coins are a fascinating subject, collection or not. Put together a budget you can afford. Stick to that budget.

Then, have fun!